Lagatar24 Desk
New Delhi, Jan 28: The Supreme Court on Friday gave SpiceJet three weeks to resolve its financial dispute with Credit Suisse AG. The apex court had also postponed the Madras High Court’s decision allowing a winding-up petition and ordered the official liquidator to take over the low-cost airline’s assets.
Senior attorney Harish Salve’s submissions that SpiceJet would endeavour to fix the issue with the Swiss firm were taken into consideration by a bench led by Chief Justice N V Ramana.
“Mr K V Vishwanathan (acting for the Swiss firm) consented to the adjournment as well. Senior counsel Harish Salve requested three weeks to try to resolve the situation. In the meantime, the high court order has been put on hold for three weeks,” the bench, which also included justices A S Bopanna and Hima Kohli, issued the order.
Notably, SpiceJet has hurried to the Supreme Court to challenge a high court division bench’s January 11 order upholding a single judge bench’s recent verdict ordering its winding up and instructing the official liquidator assigned to the high court to take over the assets.
Credit Suisse AG had filed a complaint with the high court’s single-judge bench, stating that SpiceJet had failed to honour its agreement to pay bills totaling more than USD 24 million (one million equals Rs 10 lakhs) for maintenance, repair, and overhauling of aircraft engines and components.
